The Indonesian government eased its budget deficit figures yesterday Thursday following the sale of its remaining 13% stake in Indocement Tunggal Prakarsa. Coming on top of a 176% run up in the company's share price year-to-date, the government could hardly be faulted for the timing of its sale.
The lead manager's job was made slightly tricky, however by a difficult day for Asian equity markets. Following a weak performance in the US overnight, most Asian markets were down,...